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DCM Shriram Results: Latest Quarterly Results & Analysis

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DCM Shriram Ltd. 22 Jul 2025 11:29 AM
Result PDF

Q1FY26 Quarterly Result Announced for DCM Shriram Ltd.

Diversified company DCM Shriram announced Q1FY26 results

  • Consolidated revenues of Rs 3,455 crore, a 12% YoY increase, and PBDIT of Rs 326 crore, up 19% from the Q1FY25.
  • Profit After Tax stood at Rs 114 crore, reflecting a 13% rise.
  • The annualized ROCE stood at 13.2%, while net debt was stable at Rs 1,481 crore, demonstrating financial prudence and a strong capital structure.

Ajay Shriram, Chairman & Senior Managing Director, and Vikram Shriram, Vice Chairman & Managing Director, said: “Global growth is hovering just above what many analysts consider a recessionary threshold. Trade tensions - particularly new and higher tariffs in major economies, policy unpredictability and geo-politics are dampening investor confidence, slowing investment and causing supply chain disruptions. Financial market volatility has increased sharply in 2025, contributing to a precarious economic climate. India is consolidating its place as the fastest-growing large economy, having recently become the world’s fourth largest, and is projected to continue this trajectory with policies aimed at attracting investment and fostering innovation.

Global caustic soda supply chain is disrupted owing to tariff related headwinds and geo-political conflicts, keeping international prices range bound. The business witnessed volume led growth with improved margins. The company has accelerated its entry into advanced materials through its proposed acquisition of 100% stake in Hindusthan Specialty Chemicals Ltd.

Sugar and Ethanol business is stable but facing margin pressures. Lower than expected stock levels should fundamentally support prices of Sugar. Recent retrospective levy of export fee from 2018 on Ethanol sold outside the state of UP, is a regressive step by the state government. A comprehensive review and reform of the sugar policy framework is essential to ensure financial viability for both farmers and manufacturers.

Fenesta continues to advance its growth trajectory in the core business while strategically broadening its portfolio and revenue platforms. The acquisition of majority stake in a hardware company is a strategic step towards building growth pipeline. The business is focusing on delivering value and service to its customers along with a higher wallet share in home space.

With a strong emphasis on innovation and digital connectivity, Shriram Farm Solutions is enhancing its scale and product portfolio of differentiated offerings while deepening its engagement with the farming community.

Backed by a robust balance sheet, we’re advancing into adjacent business areas, leveraging both organic and inorganic opportunities, and embedding sustainability at every stage to secure responsible, long-term growth.”

Result PDF

Result PDF

Diversified company DCM Shriram announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Net Revenue: Rs 2,877 crore compared to Rs 2,399 crore during Q4FY24, change 20%.
  • PBDIT: Rs 426 crore compared to Rs 289 crore during Q4FY24, change 47%.
  • PAT: Rs 179 crore compared to Rs 118 crore during Q4FY24, change 52%.

FY25 Financial Highlights:

  • Company recorded a consolidated Profit After Tax (PAT) of Rs 604 crore for FY25, reflecting a 35% YoY growth.
  • Consolidated net revenue, net of excise duty, stood at Rs 12,077 crore, up 11% over FY24.

Ajay Shriram, Chairman & Senior Managing Director, & Vikram Shriram, Vice Chairman & Managing Director, said: “The growth patterns in world economy are becoming very uncertain, with projections indicating a global growth rate of less than 3% for 2025 and 2026. The imposition of reciprocal tariffs by the United States and consequent retaliation by China have sent shockwaves through international markets, extending far beyond bilateral relations, influencing supply chains, inflation rates, and economic stability worldwide. The Reserve Bank of India (RBI) has taken a pro-growth stance, cutting interest rates to stimulate economic activity amid global recessionary concerns & volatility.

Global and domestic caustic prices were better supported in the current financial year although they were volatile. Domestic demand for Caustic soda has improved, however Chlorine was under pressure, hence the ECU prices are still suboptimal. We have commissioned most of our major projects in Chemicals in the current year with reasonable capacity utilisation, leading to volume led growth and better cost structure. The chlorine downstream projects, once operational, will further enhance the utilization rates of Chlor-alkali and strengthen the Chemicals business.

Sugar & Ethanol business is stable with increase in prices over last couple of months and consequently margins. The sugar stocks for SS 2025 in India are expected to be lower than last year on account of lower production which shall also support the prices. We have commissioned 12 TPD CBG Project in March 2025. There is a need for fundamental shift in Sugar policy framework, in order to make it remunerative for the farmers as well as manufacturers.

Fenesta business is strategically prioritizing accelerated growth in its core segment, while also expanding into new revenue platforms such as Facade, Wooden doors and Hardware.

Shriram Farm Solutions continues to focus on providing research driven and differentiated products to farmers and leveraging digital platforms to expand farmer engagement.

Leveraging our strong balance sheet, we are strategically expanding into adjacencies to drive scale, enhance operational integration, and maximize cost efficiencies, positioning ourselves for sustained competitive advantage.”

Result PDF

Diversified company DCM Shriram announced Q3FY25 results

  • Net Revenue: Rs 3,367 crore compared to Rs 3,035 crore during Q3FY24, change 11%.
  • PBDIT: Rs 537 crore compared to Rs 480 crore during Q3FY24, change 12%.
  • PAT: Rs 262 crore compared to Rs 240 crore during Q3FY24, change 9%.

Ajay Shriram, Chairman & Senior Managing Director & Vikram Shriram, Vice Chairman & Managing Director, said: The global economic growth for calendar year 2024 ended on a mixed note and for 2025, it is projected to be modest. The geopolitical landscape continues to be unpredictable. Central banks across major economies are expected to adopt more accommodative policies in response to the economic slowdown, however US will see slower adoption of accommodative policies leading to global uncertainty. In India, GDP growth is forecasted lower at around 6.50% in FY26, there are concerns about inflation and structural challenges at global and domestic level.

Caustic soda segment continues to function at reasonable operating levels on account of increased demand from key end user industries. The prices have been volatile and are susceptible to sudden changes on account of supply chain imbalances. Excess capacities in India are impacting ECUs. The reduction in energy costs has provided support to overall cost structure. Volumes on account of H2O2 , Aluminum Chloride and flexi flaker plant at Bharuch has further added to overall profitability of the Chemicals complex. The Chlorine downstream projects announced in the last quarter will further strengthen the utilization levels and profitability of the Chemicals complex.

Both global and Indian sugar production estimates have been revised downward. Sugar business is facing margin pressures as prices are yet not commensurate with the increase in cost of production in the last season. The industry is pushing for allowing exports and higher MSP for sugar. Ethanol business outlook remains positive. Loni capacity expansion came online in the current quarter and CBG project will get commissioned in the next quarter.

Fenesta business is focusing on enhancing growth in core segment as well as developing new revenue platforms, hardware being one of them.

Shriram Farm Solutions business continues to drive growth with its science based products. Its new product launches are being well appreciated by the market.

Considering the strength of our balance sheet, we are proactively seeking growth opportunities in adjacencies that will enable us to increase our scale, improve integration, and enhance cost efficiencies.

Result PDF

Diversified Products company DCM Shriram announced Q1FY25 results:

  • Revenue rose by 3% YoY to Rs 2,876 crore
  • PAT rose by 77% YoY to Rs 100 crore
  • PBIT rose by 68% YoY to Rs 187 crore
  • Net Debt as on 30th June, 2024 is Rs 1,459 crore vs Rs 1,434 crore as on 31st March, 2024.
  • ROCE for the period came in at 14.3% vs 13.6% for financial year ended on 31st March 2024.

Commenting on the performance for the quarter ending June 2024, in a joint statement, Ajay Shriram, Chairman & Senior Managing Director and Vikram Shriram, Vice Chairman & Managing Director, said: "Global economy continues to be in a state of uncertainty with geopolitical events, trade barriers & climate changes. There have been multiple global logistic issues emanating from China as well as Red Sea, impacting global trade. The central banks have reacted differently over last few months on relaxing interest rates, with EU and Canada cutting interest rates, US on a prolonged pause and Japan raising rates for the first time in past 17 years. Amidst all this, Indian economy continues to be strong, ably supported by policy continuity, fiscal consolidation and inflow of foreign funds. Forecast of a normal monsoon augurs well for the agricultural sector in particular and economy in general.

Global caustic demand remains balanced and India remains net exporter of caustic, with surplus capacity. Our Chemical business has performed better in this quarter as well as sequentially led by higher volumes and reduction in the energy costs. We have commissioned the 850 TPD Caustic capacity and 120 MW captive power plant, both these will add to scale and cost efficiencies. Given the steady growth in the downstream/consuming industries, we expect positive outlook for the business over the medium term.

Sugar business is stable but facing margin pressures. Current sugar prices are yet not commensurate to the increase in cost of production due to increase in SAP and adverse weather conditions. Ethanol business is stable, the growth of this vertical is subject to availability of feedstock. There is a need for better policy framework on grain based feedstock . Fenesta Building Systems and Shriram Farm Solution businesses continue to maintain their growth momentum.

Our capex in Chemical business is nearing completion. Hydrogen Peroxide Plant has started trial runs and ECH plant is expected to start trial runs by Q2FY25. Expansion of sugar capacity and CBG project in Sugar business are progressing as per schedule.

Sustainability remains at the core of our business strategy for guiding our actions & decisions. We prioritize our actions in the sphere of water conservation, energy conservation, green energy, circular economy and social upliftment to create lasting value for our stakeholders.

Our growth agenda is directed towards evaluating adjacencies in our core businesses which will strengthen and enhance our portfolio."

Result PDF

Specialty Chemicals company DCM Shriram announced Q1FY24 results:

  • Net Revenue of Rs 2,780 crore in Q1FY24 compared to Rs 2,851 crore in Q1FY23, down 2% YoY
  • PBDIT of Rs 183 crore in Q1FY24 compared to Rs 464 crore in Q1FY23, down 60% YoY
  • PAT of Rs 57 crore in Q1FY24 compared to Rs 254 crore in Q1FY23, down 78% YoY
  • PBIT of Rs 111 crore in Q1FY24 compared to Rs 403 crore in Q1FY23, down 72% YoY
  • Finance cost of Rs 25 crore in Q1FY24 compared to Rs 17 crore in Q1FY23, up 52% YoY
  • Depreciation of Rs 72 crore in Q1FY24 compared to Rs 61 crore in Q1FY23, up 19% YoY
  • Net Debt as of 30th June 2023 is Rs 926 crore (LY Rs 8 crore) & as on 31st March 2023 is Rs 681 crore.
  • ROCE for Q1FY24 came in at 21.2% vs 36.5% for Q1FY23.
  • Tax cash outflow is approx. 17.5% 

Commenting on the performance for Q1FY24, in a joint statement, Ajay Shriram, Chairman & Senior Managing Director, and Vikram Shriram, Vice Chairman & Managing Director, said: The world economy continues to face headwinds amidst weak growth prospects and geo-political uncertainties. A confluence of factors, including legacy effects of the Covid-19 pandemic, the elongated Ukraine-Russia war, climate change issues, and inflation are weighing on the global economic outlook. Inflation in major economies continues to be at higher than normal levels, leading to the most aggressive interest rate hike cycle in decades, causing financial conditions to tighten. While global growth and demand are impacted, growth momentum in India is strong.

Our Chemicals and Vinyl businesses are facing challenges as a result of global disruptions in demand, supply, and costs. We are taking measures in terms of scale, costs, and integration that will help us weather these tough times. Both our projects at the Chemicals complex in Bharuch on Green Power & 120MW power plant will start bringing cost benefits during Q2/Q3 FY2024 and onwards. Other projects in the chemicals business are also in advanced stages with expected commissioning in the next six months.

The sugar business environment is positive. Global sugar prices are still elevated, with 2022-23 being a deficit year and expected in 2023-24 as well. Indian markets remained insulated from global markets as the export quota for the current year is already exhausted. Sugar margins in Uttar Pradesh continue to be suboptimal since sugar prices have not moved in tandem with the increase in sugarcane cost, which continues to be higher in Uttar Pradesh. Our grain process at Ajbapur distillery was also commissioned which will add to our Ethanol production capacity.

Fenesta & Shriram Farm Solution businesses continue to witness good momentum and have become significant contributors to growth.

We strive for sustainability, be it water conservation, energy conservation, green energy, or circular economy, in all our businesses.

We will continue to look for growth opportunities in core and adjacent businesses along with ensuring a healthy Balance sheet and Cash flow.

 

 

Result PDF

Specialty Chemicals firm DCM Shriram announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Net Revenue for Q4FY23 down 3% YoY at Rs 2,720 crore
    • PBDIT for Q4FY23 is down 44% YoY at Rs 372 crore
    • PAT for Q4FY23 is down 53% at Rs 187 crore vs Rs 401 crore last year
    • ROCE at 27% vs 34% in FY22 
    • Net debt as of 31st March 2023 is Rs 681 crore vs Rs 4 crore as of 31st March, 2022
    • The final Dividend declared by the Board in this meeting at 180% amounting to Rs 56.14 crore (Total for the year at 700% amounting to Rs 218.32 crore)
  • FY23:
    • Net Revenue (net of excise duty) up 20% YoY at Rs 11,547 crore
    • PBDIT for FY23 is down 9% YoY at Rs 1,726 crore vs Rs 1,888 crore for FY22
    • PAT for FY23 is down 15% at Rs 911 crore vs Rs 1,067 crore during FY22

Commenting on the performance for the quarter and period ending March 2023, in a joint statement, Ajay Shriram, Chairman & Senior Managing Director, and Vikram Shriram, Vice Chairman & Managing Director, said: The world economy is still recovering from the unprecedented disruptions in the last three years. It will take time for world trade to adapt to the new normal. Growth is expected to slow down, especially in the advanced economies. Recession concerns have gained prominence, while worries about stubbornly high inflation persist. India continues to be in a sweet spot and will see healthy growth and so will our businesses.

The chloro-vinyl business delivered reasonable returns although they have come off their all-time highs witnessed last year. Though the output prices are expected to remain under pressure for a couple of quarters, the margins should be reasonable considering the captive energy costs likely to reduce in the coming quarters in view of reduced imported coal prices and commissioning of an efficient 120MW power plant and 50MW green power project for Bharuch by second quarter. In the coming year, Chemical business will usher a new era of growth with all the Chemical projects being commissioned. These projects are slightly delayed by a quarter given the supply constraints.

Sugar business continues to be stable though sugar prices have not yet increased to levels to compensate for the increase in sugarcane prices last year. India's crush and sugar production is expected to be much lower than last year and should support higher sugar prices domestically & globally. Our Sugarcane crush as well as recovery this season has been better than previous season. 120 KLD distillery is operational on molasses feedstock, the grain attachment is ready and awaiting regulatory approval, which is expected in Q1FY’24.

Fenesta & Shriram Farm Solution businesses continue to grow at a good rate.

Sustainability measures in the areas of green power, circular economy and resource conservation continue to be an integral part of all our businesses. Our balance sheet & cash flows are healthy and will weather economic uncertainties. We are actively looking for more avenues at growth."

 

Result PDF

Specialty chemicals manufacturer DCM Shriram announced Q3FY23results:

  • Q3FY23:
    • Net revenue Q3FY23 up 19% YoY at Rs 3,236 crore
      • Sugar business up 29% at Rs 728 crore led by higher domestic and export volumes
      • Shriram Farm Solutions up 15% at Rs 512 crore led by better prices and product mix
      • Fenesta up 31% at Rs 179 crore led by volumes growth in both project & retail
      • Vinyl down 33% at Rs 204 crore primarily due to lower output prices
    • PBDIT Q3FY23 down 4% YoY at Rs 588 crore
      • Chemicals down 24% at Rs 218 crore led by higher input costs
      • Vinyl at Rs 19 crore vs Rs 125 crore led by lower product prices
      • Sugar business down 23% at Rs 102 crore, since the increase in SAP last year not fully compensated in sugar and ethanol prices
      • Shriram Farm Solution up 47% led by better margins
      • Fenesta up 87% led by better volumes and margins
      • Fertiliser had a positive impact of Rs 49 crore relating to earlier periods
    • Projects: In sugar the projects worth of Rs 450 crore have commenced operations. In chemicals the projects worth Rs 2,800 crore are on track
    • ROCE at 34% vs 29% LY

Commenting on the performance for the quarter and period ending December 2022, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: We are glad to report another consistent quarter of robust performance with positive/stable outlook across all the businesses. The operating environment is very challenging globally. Russia-Ukraine conflict does not seem to be concluding, Covid fears are back, there are risks of recession, the inflation seems to have peaked however the monetary tightening is expected to continue albeit at a lower pace. India is better placed in terms of the growth story and so are each of our diversified businesses

The Chloro-vinyl business is delivering reasonable returns although they have come off their all-time highs. In Chlor-alkali the product prices are off-their historic peak, the input costs continue to be elevated driven by energy prices. The margins for the Vinyl business were under pressure during the quarter, owing to reduced global demand and increased supply, the scenario is now improving. Captive energy costs continue to be high will improve in the coming quarters with commissioning of efficient 120MW power plant and 50MW green power project for Bharuch. Expansion projects in Chemical Business are on track although the timelines are stiff given the supply side constraints.

Sugar business continues to operate in a favorable policy environment. However, to meet the Ethanol blending program more policy measures are required, especially for the state of UP. Our mills have started crushing in this quarter and is witnessing a better crop. Capacity enhancements in sugar & distillery are commissioned except grain attachment which is likely to be operational in this quarter.

Fenesta & Shriram Farm Solution businesses continued to follow the growth trajectory and have delivered promising results

Our Company is making conscious efforts towards sustainability through adding green power, circular economy and resource conservation. Some such measures are already underway and more are being planned

Our balance sheet & cash flows continue to be healthy and we are actively looking for more avenues for growth.

Result PDF

Specialty Chemical firm DCM Shriram announced the Q2FY23 results:

  • PAT for Q2 FY23 at Rs. 128 crore, down 19% YoY
  • PAT for H1 FY23 at Rs. 382 crore, up 21% YoY
  • Board Declared an Interim dividend of 230% amounting Rs 71.73 crore
  • Net Revenue Q2 FY23 up 28% YoY at Rs 2,740 crore.
    • Chemicals revenues up 62% at Rs. 781 crore led by prices
    • Shriram Farm Solutions revenues up 33% at Rs. 238 crore led by volumes & better prices
    • Fenesta revenues up 37% at Rs. 178 crore led by volumes growth & prices
    • Vinyl revenues down 53% at Rs. 155 crore primarily due to lower volumes & prices
  • PBDIT Q2 FY23 down 3% YoY at Rs 302 crs.
    • Chemicals PBDIT up at Rs 250 crore vs Rs 108 crore
    • Vinyl PBDIT at Rs (-ve 10) crore vs Rs 156 crore, led volumes and margin pressures.
    • Sugar Business PBDIT lower at Rs (–ve 15) crore vs Rs 33 crore LY, being an offseason and lower margins
  • Projects under implementation in Chemicals and Sugar, aggregating ~ Rs.3,500 crore are progressing well. Most of the sugar projects will get commissioned in Q3’ FY2023 and chemical projects are likely to be commissioned over the next 9 months.
  • Tax cash outflow is limited MAT (17.47%).
  • PAT for Q2 FY23 at Rs 128 crore vs Rs 158 crore during Q2 FY22
  • Interim Dividend declared by the Board at 230% amounting to Rs 71.73 crore.

Mr Ajay Shriram, Chairman & Senior Managing Director, and Mr Vikram Shriram, Vice Chairman & Managing Director, said: We are glad to report a good overall performance during the quarter. The businesses continue to operate in a very volatile economic environment given the geo political uncertainties, climate change, monetary tightening and fears of recession around the corner. India is better placed with strong GDP growth but is not immune to above factors. Our Company also gets impacted by these factors but has inherent strength in its business model and financials to manage the tough operating environment.

Our Chemical business has performed well with reasonably firm product prices, a result of global supply chain imbalance. Vinyl business is facing headwinds of lower product prices with global decline in demand and higher sourcing from China. The major concern today for Chloro-Vinyl business is high energy prices which continue to be firm given the geo political instability. We are taking steps to reduce our energy costs by setting up additional 120 MW energy efficient captive coal based power plant and tying up for 50MW renewable power. We plan to take more such steps to reduce our costs as well as increase our green footprint.

Sugar industry is poised for growth with favorable dynamics with respect to Ethanol as well as Sugar. For the state of UP there is a need for better policy support to push exports as well as cane juice based Ethanol. The Company is exploring opportunities to build multiple revenue streams beyond Sugar and Ethanol through Circular economy.

Agri Input business of Shriram Farm Solutions witnessed growth despite unfavorable monsoons Fenesta business continues its growth trajectory with strong operating performance. It is now entering into business of Facades.

Our Investment projects of around Rs. 3,500 crs across businesses are under progress as per schedule. Given the health of our balance sheet and operating cash-flow, we will look forward to more growth avenues and enhance our scale, integration and cost efficiencies.

 

Result PDF

Specialty Chemicals firm  DCM Shriram Announced Q1FY23 Result :

  • Net Revenue up 46% at Rs/Cr 2851
  • PBDIT up 55% at Rs/Cr 464 & PAT up 61% at Rs/Cr 254
  • Net Revenues for Q1 FY23 up 46% YoY at Rs/cr 2,851.
    • Chloro-Vinyl up 90% at Rs/cr 1,140 driven by prices & volumes.
    • Sugar up 26%, at Rs/cr 710* driven by higher volumes and prices.
    • Fenesta up 54% at Rs/cr 167 led by volumes and prices in both project & retail segment
  • PBDIT for Q1 FY23 up 55% YoY at Rs/cr 464.
    • Chemical up 227% at Rs/cr 368 due to better margins & volumes
    • Fenesta up 168% at Rs/cr 32 led by higher volumes & better margins in retail segment
    • Sugar down 49% at Rs/cr 22 led by lower margins in sugar due to increased cost of production consequents to increase in SAP & lower recoveries in last season.
  • Projects under implementation in Chemicals and Sugar, aggregating Rs/cr 3,500 approximately, are progressing well and scheduled to be commissioned in next 12 months
  • ROCE is higher at 37% vs 23% in June’21.

Commenting on the performance for the quarter and period ending March 2022, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said We are witnessing very high inflation levels across the globe after many decades. There are supply chain disruptions, prices of key commodities are still elevated, Interest rates are rising, currencies across the globe are at historic lows against the US dollar and there is Russia-Ukraine conflict which is continuing. These have led to uncertain economic environment. With our strong businesses and balance sheet we are well placed to manage these uncertainties. Our operating and financial performance during the quarter continues to remain strong.

Chemicals business has performed well, with cost pressures being more than compensated with increase in volumes and product prices. Some softening is likely with the reduction in global demand however overall returns are expected to remain reasonable and the cost improvement measures being taken will cushion our margins. Vinyl business is facing cost pressures however the margins are good. Sugar business is facing margin pressures in Sugar, however Ethanol earnings are stable. This season costs have gone up with increased in SAP as well as adverse climate factors. Sugar policy especially in UP requires better support from government. Ethanol continues to get fillip from the Government considering their target of 20% mandate by 2025, here again cane juice based ethanol requires a differentiated policy for UP given unfavorable cost dynamics. Fenesta & Shriram Farm Solutions businesses continue to witness good growth with new product portfolios & geographical expansion. Bioseed India has shown improvement despite delay in monsoons.

We are investing close to Rs 3,500 crs in various projects primarily in Chemicals and Sugar business which are to be commissioned over the next 12 months and will be funded from internal accruals and debt. These projects will increase our scale, forward integration, new product lines along with bringing efficiencies and cost reduction. Some of these projects are directed towards creating wealth out of waste, building future capabilities and reducing carbon footprint.With comfortable balance sheet and cash flow we will continue to deliver growth on a sustained basis.

 

Result PDF

DCM Shriram declares Q4FY22 result:

  • PAT for FY22 up 59% at Rs 1,067 crs, PBDIT up 52% at Rs 1,888 crs
  • PAT for Q4 FY22 up 73%, PBDIT up 69% YoY
  • Board Recommended Final Dividend 245%, Total for the year at 735%
  • Net Revenues for Q4 FY22 up 28% YoY at Rs 2,796 crs.
    • Chloro-Vinyl revenues up 85% at Rs 1,162 crs driven by prices.
    • Fenesta revenues up 30% at Rs 153 crs driven by project segment & prices.
    • Sugar revenues down 26%, at Rs 755 crs due to lower sugar export since parity better in western/ southern states.
  • PBDIT for Q4 FY22 up 69% YoY at Rs 663 crs.
    • Chemical PBDIT up 403% at Rs 369 crs due to better volumes & margins.
    • Sugar Business PBDIT down 19% at Rs 193 crs due to lower volumes & margins.
    • Cost pressures due to higher energy prices in Chloro-Vinyl businesses and sugarcane price in Sugar business.
  • Projects under implementation in Chemicals and Sugar, aggregating to about 3,300 crores progressing well.
  • ROCE is higher at 35% vs 20% in March’21.
  • New Investments
  • Building manufacturing capabilities for Value added Agri inputs including Biologicals at an investment of Rs. 20 crs. Investment will be made through a subsidiary.
  • Augmenting extrusion capacity in Fenesta Business, at an investment of Rs. 47 crs.

Commenting on the performance for the quarter and period ending March 2022, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: The Company has witnessed a strong operating and financial performance during the year. The business environment was dynamic throughout the year, as a result of second and third wave of Covid-19 and geo political concerns. Supply chain disruption was a major challenge along with high energy prices. We are glad that our businesses have managed the uncertain operating environment very well, which is reflected in the performance as well.

Chloro-vinyl business continues to face cost pressures across all input materials, more specifically on account of energy costs. These pressures are not expected to come down in the near future. We believe that firm product prices should support high energy prices. We will continue to invest in improving cost efficiencies. Capital expenditure plans in this business are progressing well, although the project costs are facing headwinds of high commodity prices.

Sugar season has ended in April’22. The Cane crushed has been in line with last season albeit with lower recovery due to climatic factors. The Sugar business in Uttar Pradesh requires a better policy support from Centre and State government given the disadvantage of higher Sugarcane price which makes cane juice based Ethanol less remunerative and distance from ports which makes exports unviable without subsidy/ Quota. Capital expenditure projects in this businesses are progressing as per plan

We are overhauling our Bioseed India business and expect it to turnaround in next two years. Farm solution business continues to grow and we are investing in developing research and manufacturing capabilities for value added agri-inputs including biologicals. Fenesta business is enhancing its portfolio and capacities to sustain growth momentum. With comfortable balance sheet and Cash flows we will continue to deliver growth on a sustained basis.

Result PDF

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